Alabama incomes grow right in line with the nation, but behind Mississippi

Alabama residents' personal incomes are growing, the Bureau of Economic Analysis said Thursday.

Alabamians earned incomes at an annual rate of $178.1 billion in the third quarter, up about 1.1 percent from the prior three months.

Alabama's personal income growth rate was right in line with the nationwide rate. Compared to other states, it ranked 29th in personal income growth.

The Southeast saw a wide range of changes to incomes over the past three months. Mississippi, often derided for poor economic performance, actually saw the fastest rate of income growth in the entire U.S. There, incomes grew by 1.9 percent over the past quarter.

Arkansas (1.3 percent), Florida (1.2 percent), and South Carolina (1.2 percent) also ranked in the top 10 for income growth.

Personal income combines earnings from employment, rental and dividend income, and government transfers to measure dollars going into pockets. In Alabama, government transfers were essentially unchanged, while earnings from employment grew by 1.3 percent.